S.1939 - Western Hemisphere Free Trade Area Act of 1994103rd Congress (1993-1994)
|Sponsor:||Sen. Dodd, Christopher J. [D-CT] (Introduced 03/16/1994)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 03/16/1994 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.1939 — 103rd Congress (1993-1994)All Information (Except Text)
Introduced in Senate (03/16/1994)
TABLE OF CONTENTS:
Title I: Policy and Purposes
Title II: Negotiating Authority and Eligibility
Title III: Entry into Force of Free Trade Area Agreement
Title IV: Hemisphere Trade Organization
Title V: Authorization of Appropriations
Western Hemisphere Free Trade Area Act of 1994 - Title I: Policy and Purposes - Declares it to be U.S. policy to seek an agreement that establishes before the year 2000 a free trade area in the Western Hemisphere.
Title II: Negotiating Authority and Eligibility - Authorizes the President to negotiate with Western Hemisphere countries and territories in order to reach an agreement establishing a free trade area in the Western Hemisphere. Declares overall trade negotiating objectives, including: (1) elimination of trade barriers and promote fair competition; (2) increase in investment opportunities; (3) effective protection of intellectual property rights; (4) guaranteed respect for international workers' rights; (5) effective dispute resolution procedures; and (6) standards to protect the environment.
(Sec. 202) Declares a country to be an eligible Western Hemisphere country or territory if it is: (1) a designated beneficiary country pursuant to the Andean Trade Preference Act or the Caribbean Basin Economic Recovery Act; (2) a North American Free Trade Agreement (NAFTA) country; (3) the Commonwealth of Puerto Rico; or (4) one of the U.S. Virgin Islands. Sets forth other eligibility requirements.
Title III: Entry Into Force of Free Trade Area - Provides for implementation of the free trade area agreement.
(Sec. 302) Applies "fast track" procedures under the Trade Act of 1974 with respect to implementing bills submitted in conjunction with such agreement.
(Sec. 303) Declares that such procedures shall not apply if both Houses of the Congress separately agree to a procedural disapproval resolution within any 60-day period.
Title IV: Hemisphere Trade Organization - Urges the President, in order to facilitate an early agreement establishing a free trade area in the Western Hemisphere, to consider the creation of a Western Hemisphere Trade Organization to serve as the locus for negotiation of such agreement and to facilitate its implementation. Urges that the United States Trade Representative be designated as the President's representative to such organization.
Title V: Authorization of Appropriations - Authorizes appropriations.